Weekly Large Trader COT Report: Silver
CFTC COT data shows Silver speculative positions dipped again last week
Silver Non-Commercial Positions:
Silver speculators and large futures traders reduced their silver bullish bets last week for a fifth straight week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Comex silver futures, traded by large speculators and hedge funds, totaled a net position of +15,557 contracts in the data reported through June 23rd. This was a weekly change of -115 contracts from the previous week’s total of +15,672 net contracts that was registered on June 16th.
The dip in the net speculator positions was due to a rise in the weekly bearish positions by 7,054 contracts that overtook a smaller rise in the bullish positions by 6,939 contracts to total the weekly net change of -115 contracts.
Silver Commercial Positions:
The commercial traders position, categorized as hedgers or traders engaged in buying and selling for business purposes, slightly added to existing bearish positions last week to a net total position of -29,477 contracts through June 23rd. This is a weekly change of -622 contracts from the total net of -28,855 contracts on June 16th.
Silver ETF:
Over the weekly reporting time-frame, from Tuesday June 16th to Tuesday June 23rd, the ARCA:SLV iShares ETF, which tracks the price of silver, declined from approximately $15.32 to $15.14, according to ETF market data from Yahoo (NASDAQ:YHOO) Finance.
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).